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Chainlink and Uniswap Hit New All Time Highs

Chainlink reached a six week high Tuesday, when the token increased for a sixth consecutive session. This move saw the token rise past a key...
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Photo by Nicholas Cappello

Chainlink reached a six week high Tuesday, when the token increased for a sixth consecutive session. This move saw the token rise past a key resistance level. Uniswap also saw prices rise by up to 16% earlier in today’s trading session.

Chainlink (LINK)

Chainlink (LINK), which rose on Tuesday for the sixth consecutive day, took the token to its highest point since mid August.

After trading at a $6.55 floor on Wednesday, LINK/USD rallied in back to back sessions with prices reaching an all-time high of $8.36 today.

Tuesday’s high mark is the highest that chainlink has reached since August 17, when it failed to break through from $9.50.

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The chart shows that today’s price rise was the result of a successful move above the $8.05. ceiling.

This was not all. The 14-day relative strength indicator (RSI), which had been holding steady for the past week, also showed a breakout.

The index currently stands at 61.03 as of writing. This is the highest level since August 14.

Uniswap (UNI)

Uniswap was another notable gainer Tuesday, rising by as high as 16% during today’s session.

The UNI/USD rose to $6.68 Tuesday, a price that saw prices rise to their highest point since September 13.

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Today’s move has resulted in uniswap trading close to \$6.70. This ceiling was historically a point of contention.

The gains made in the past have been somewhat diluted as the day progresses. As of writing, the token trades at $6.61.

This is due to the RSI approaching a hurdle at 58.00. Some traders have liquidated earlier positions.

The RSI must move beyond the 58.00 mark in order to allow UNI to rise above $7.00 over the next few days.

Elena Argyros

Elena Argyros

Elena is cryptocurrency writer / journalist based in Europe. She has extensive knowledge in the crypto space and is a solidity programmer by trade. Elena has built an extensive resume working with some of the most ground breaking blockchain firms. Being in Europe, Elena has amassed a large network of professionals in the space and states "The technology behind blockchain is going to impact everyone on earth in a good way, once you get to understand it".
Elena Argyros

Elena Argyros

Elena is cryptocurrency writer / journalist based in Europe. She has extensive knowledge in the crypto space and is a solidity programmer by trade. Elena has built an extensive resume working with some of the most ground breaking blockchain firms. Being in Europe, Elena has amassed a large network of professionals in the space and states "The technology behind blockchain is going to impact everyone on earth in a good way, once you get to understand it".

© 2022 The Daily Encrypt. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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